Virtustream, a US-based enterprise software company which provides cloud management software and infrastructure-as-a-service (IaaS) solutions, has closed a $40m series D investment round led by Germany-based software company SAP, which is already a strategic partner and customer of Virtustream.
Virtustream will use the proceeds to fund additional capacity for IaaS growth and accelerate development of its xStream cloud management software.
Previously, in March 2012, Intel’s corporate venturing unit Intel Capital helped Virtustream raise $15m, joined by venture firms Columbia Capital, Noro-Moseley Partners, TDF, and new investor, venture firm QuestMark Partners; in July 2011, Virtustream raised $10m; in 2010, it raised a $49.4m series A round.
Bjoern Goerke, corporate officer of SAP HANA Enterprise Cloud at SAP, said: “Virtustream has been very successful innovating a technology platform uniquely equipped for running mission critical enterprise applications, such as ours, with the simplicity of the cloud. This investment underscores our commitment to the enablement and delivery of the finest cloud-based enterprise software and service solutions in the world today.”
Rodney Rogers, chairman and chief executive officer of Virtustream, said: “Virtustream and SAP share a singular vision on what it takes to deliver world-class cloud solutions to the enterprise market. This round of funding will accelerate our ability to anticipate the needs of the enterprise, and to develop and deploy market-leading private, public and hybrid cloud solutions to service these complex needs.”